Ripple’s $200M Credit Line Sparks Speculation on Game-Changing Moves in Institutional Prime Brokerage

Ever wonder what it takes for a crypto-native company to truly break into the high-stakes world of institutional finance? Ripple’s latest move might just have the answer. Snagging a hefty $200 million credit facility from Neuberger Berman—that’s the kind of financial muscle that speaks volumes about where this digital asset market is headed. This isn’t just a cash infusion; it’s a signal that Ripple Prime, their institutional prime brokerage arm, is ready to crank up the volume on margin loans and other slick financing products tailor-made for hedge funds, trading firms, and institutional players navigating both crypto and traditional markets. Noel Kimmel, the big boss at Ripple Prime, clearly sees the appetite growing, and let’s be honest, who wouldn’t want a bigger slice of that pie? Pretty fascinating, given Ripple’s strategic acquisition of Hidden Road in 2025, which has since tripled revenue and carved out a solid foothold in institutional brokerage. The question is—how much farther can Ripple push the envelope as they blend the old-world finance with the new-age crypto frontier? LEARN MORE.

Ripple has secured a $200 million credit facility from funds managed by Neuberger Berman to expand the lending capacity of its institutional prime brokerage business, highlighting continued demand for financing services in the digital asset market.

The company said Monday that the debt facility will allow its Ripple Prime unit to offer more margin loans and other financing products to hedge funds, trading companies and other institutional clients active in both crypto and traditional markets. 

Ripple Prime president Noel Kimmel said the additional capital will help the unit serve a broader range of institutional clients as demand for crypto financing and brokerage services continues to grow.

Neuberger Berman is a global investment manager with more than $560 billion in assets under management. 

Ripple acquired prime brokerage platform Hidden Road in 2025 and has since tripled the unit’s revenue, according to the company. Ripple did not disclose whether the business is profitable or how much of the $200 million facility has been drawn.

Source: Fundraising Digest

Related: Ripple CEO says market structure bill not ‘done deal,’ despite compromise

Hidden Road acquisition gave Ripple a foothold in institutional brokerage

Ripple announced its acquisition of Hidden Road in April 2025 and completed the roughly $1.25 billion deal about six months later. The acquisition allowed the company to launch its institutional prime brokerage business, which was later rebranded as Ripple Prime.

Hidden Road was a global prime broker that provides clearing, financing and execution services to hedge funds, market makers and other institutional investors across digital assets and traditional markets. At the time of the acquisition, the company cleared roughly $3 trillion in annual trading volume and served more than 300 institutional clients.

The transaction marked the first known acquisition of a global prime broker by a crypto-native company, giving Ripple a direct foothold in institutional market infrastructure.

Ripple Prime has also seen growing adoption. Last month, crypto exchange operator Bullish expanded its integration with the platform to provide institutional clients with more direct access to Bitcoin options trading.

The integration gives Ripple Prime users access to Bullish’s regulated Bitcoin options market, with stablecoins including Ripple USD (RLUSD) accepted as collateral.

The Ripple USD (RLUSD) stablecoin has a market value of more than $1.5 billion. Source: CoinMarketCap

Related: Crypto Biz: Wall Street wants more than just Bitcoin